Tax Tip Tuesdays

Tax Tip Tuesday: What Will You Do with Your Tax Refund? Direct Deposit It to Your IRA!

March 19th, 2019|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

If you haven’t yet filed your tax return and are expecting a refund this year, there is an easy way to turn that refund into retirement savings without being tempted to spend it. Did you know you can direct deposit your tax refund into […]

Tax Tip Tuesday: SEP IRAs and Other Retirement Plan Reminders

March 12th, 2019|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

It’s that time of year where the attention of many business owners quickly turns to tax season and ways to reduce taxes—while increasing savings.

For small business owners looking for 2018 tax deductions, along with a way to jump start your retirement savings, the SEP IRA […]

Tax Tip Tuesday: There’s Still Time to Contribute to Your IRAs

March 5th, 2019|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

It’s not too late! You can still make a contribution to your traditional or Roth IRA. Regardless of when you file your income tax return, April 15, 2019 is the deadline for the 2018 tax year for most people (see below for details). For […]

Tax Tip Tuesday: Beware of the Dirty Dozen of Tax Scams

February 26th, 2019|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Each year the IRS announces its “Dirty Dozen” of tax scams.  These are the most common and most dangerous scams that affect taxpayers.  The top three, for the second year in a row, are:

Phishing: Phishing is when scammers send fake emails or website […]

Tax Tip Tuesday: Seven Questions to Ask Your Tax Preparer

February 19th, 2019|

By Chris Whiting, CFP®, Executive Vice President, Director of Sales and Marketing

Many people currently use or are considering hiring a tax professional to help with taxes.  There can be many great reasons to partner with a tax specialist:  perhaps you have a complicated tax situation, own your own business, had a major life event, or […]

Tax Tip Tuesday: To File Early or Not, That is the Question!

February 12th, 2019|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Once again, it’s that time of year when we all have to start preparing for tax season.  Tax season can often cause angst and evoke a number of concerns from taxpayers, with one common question being the pros and cons of filing taxes early.  Unfortunately, […]

Tax Tip Tuesday: New Tax Laws Arrive

February 5th, 2019|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

The time has come for tax season, and recall, this is the first tax year for the Tax Cuts and Jobs Act of 2017 (“Tax Act”). To help you navigate these new waters we will dedicate the next twelve weeks to keep you informed […]

Tax Tip Tuesday: Second Verse, Not The Same As The First

April 17th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Today is the last day of tax season.  You may be happy that a refund is coming, or you may be steamed at the amount of taxes you had to pay.  Regardless, the experience you had for the 2017 tax season likely will be […]

Tax Tip Tuesday: Higher Income Means More Taxes

April 10th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

While the new tax laws for 2018 have lowered income tax rates generally, there’s still some bites of the apple that Uncle Sam plans to take from higher income earners. While many tax thresholds are indexed for inflation, like the AMT tax exemption, taxes […]

Tax Tip Tuesday: Is My Social Security Taxable?

April 3rd, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

At one time, all Social Security benefits were tax free. Today, if your only source of retirement income is Social Security, then it may still be tax free. But the higher your income, the more taxes you’ll pay on your benefits.

Taxes on Social Security […]